President Bola Tinubu, on August 4, 2024, addressed the nation amid ongoing protests in Nigeria, sparked by widespread hardship.
Here are the key points from his speech:
1. Condolences and Call for Peace: The President expressed sorrow over lives lost during the protests and called for an end to violence.
“I commiserate with the families and relations of those who have died in the protests. We must stop further bloodshed, violence and destruction,” Tinubu stated.
2. Suspension of Protests: Tinubu urged protesters to suspend further demonstrations and engage in dialogue.
He said, “I hereby enjoin protesters and the organisers to suspend any further protest and create room for dialogue.”
3. Economic Reforms: The President defended his decision to remove fuel subsidies and reform the foreign exchange system, stating these actions were necessary to “reverse the decades of economic mismanagement.”
4. Fiscal Improvements: Tinubu highlighted economic progress, stating, “Aggregate government revenues have more than doubled, hitting over N9.1 trillion in the first half of 2024 compared to the first half of 2023.”
5. Infrastructure Development: The President mentioned ongoing major infrastructure projects, including the Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway.
6. Oil and Gas Sector Revival: Tinubu reported an increase in oil production to 1.61 million barrels per day and renewed investor interest in the sector.
7. Compressed Natural Gas Initiative: The government launched a CNG initiative to power transportation and reduce costs, with plans to distribute a million conversion kits.
8. Youth Empowerment Programmes: Tinubu outlined several initiatives for youths, including the student loan scheme, Digital and Creative Enterprises programme, and various skill development schemes.
9. Housing Projects: The President announced plans to complete 100,000 housing units over the next three years as part of the Renewed Hope City and Estate initiative.
10. Food Security Measures: Tinubu revealed plans to boost food production, including the removal of tariffs on certain food items and the distribution of farming equipment.
President Tinubu concluded by calling for unity and patience:
“Let us work together to build a brighter future for ourselves and future generations. Let us choose hope over fear, unity over division, and progress over stagnation.”
